Bill Of Lading: Shall mean the official document, issued at the Load Port after completion of the loading operations, stating the ships’ loaded quantity, expressed in Cubic Meters [cub meters], in Metric Tons [MT] expressed as per the above definitions. This document has to be signed in original by the ship master and made out in accordance with the instruction hereinafter specified in this Agreement.

Vessel: Shall mean the ship whether owned or chartered or otherwise obtained by Buyer and employed by Buyer to receive the oil at the loading port.

Shipment of 2 Million US barrels +/-05% with possible rolls and extension at both parties discretion.

DESTINATION:

TERMINAL LOADING [FOB]

PRICE:

The price for each Barrel of Bonny Light Crude Oil delivered out-turned barrels shall be Dated Brent” on the date of Bill of Lading as published by McGraw Hill market wire less discount of $12.00USD per barrel.

2.0 RIGHTS OF UNPAID SELLER AGAINST THE GOODS
The operation of the seller’s right over the goods in the Act is dependent upon the being ‘unpaid’. Section 45, the seller of goods is deemed to be an “unpaid seller”
within the meaning of this Act-
a) when the whole of the price has not been paid or tendered;
b) when a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has not been fulfilled by reason of the dishonour…

Contract is an agreement between two or more competent parties in which an offer is made and accepted, and each party benefits. No contract can come into being unless the following features exist: an actual offer, an acceptance, consideration (this means that each party will contribute something of a material value to the bargain) and an intention to create legal relations. The agreement can be formal, informal, written, or just plain understood.
(a) For a contract to exist the offer must be made…

Who is an Unpaid seller?
The seller of goods is deemed to be an "unpaid seller"
(a) When the whole of the price has not been paid or tendered.
(b) When a bill of exchange or other negotiable instrument has been received as conditional payment, and the conditions on which it was received has not been fulfilled by reason of the dishonour of the instrument or otherwise.
The term seller includes any person who is in the position of a seller, as, for instance, an agent of the seller to whom the bill…

From: Erin N
To: Contracts Course grader
Date: 12/13
Re: Assignment 1
MEMO
FACTS
Bernie lives in Richmond, VA and he decides on February 1 to advertise the sale of his 2006 Ford Fusion for $13,500 in the local newspaper. After several weeks and no offers he gets a call from Vivian on March 1st offering to purchase the car for $12,000. Bernie realizes he may not get any other offers and sets up to meet with Vivian on March 5th to complete the sale transaction.
After the negotiations…

1.0 Introduction
1.1 Basic Elements of Contract
In order to form a valid contract, each agreement must fulfill some important elements which are stated in Section 10 (1) of Contract Act 1950,
“All agreements are contract if they are made by the free consent of parties competent to contract, for a lawful object, and are not hereby expressly declared to be void.”
This section emphasizes the legal contract, the willingness and the parties capable of contracting and consideration which are all part…

a product and sells it on to its customers. For that exchange to happen; there are various gaps that Checkers need to bridge for the exchange to be successful.
One of the gaps that Checkers successfully bridges is the space gap that exists between seller and the buyer. This gap is simply the physical distance between the producer and the consumer. Checkers bridges this gap by having large fleets of trucks and trailers at strategically placed distribution centres around the country. As checkers is…

glitz and advertising more than quality. Hence it is often found that a particular book has topped the best sellers chart for a considerable amount of time despite lacking in quality, mainly due to advertising and marketing push, while a classic could not transform its class into commercial success. Although, opposite examples are also not scarce when a classic has gone on to top the Best Sellers list due to its sheer class.
Bestsellers and Classics Differentiated: The word “classics” is derived from…

Contract Cancellation due to a Breach of Contract
Submitted by
Victoria Wyatt
Prepared for
Dr. Maverick
Acquisition Law
Spring 07
18 May 2007
CERTIFICATE OF AUTHORSHIP: I certify that I am the author. I have cited all sources from which I used data, ideas, or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
______________________________________________
Signature Date
Overview…

Breaches of contracts: Fulfilling the elements of a contract
In this example, the breach of contract involves a dispute between an installer of replaceable windows and a homeowner. The seller advertised that the windows came with a guarantee of the workmanship for as long as the purchaser owned the house. After purchasing the windows, a number of the windows cracked. The seller refused to replace the window because the crack was due to a defect in the glass, not because the windows were improperly…

Issue:
The issue here is whether there was a valid contract between buyer and seller. If this case goes to the court, who is likely to succeed. By assuming that the buyer prevails in his lawsuit against seller, what damages buyer is likely to receive when:
• Seller agreed to the buyer that he has to mail a cheque for $5000 and then pay the balance by 1 November.
• Buyer then mailed Seller a $5000 cheque later that day.
• Buyer's plans to borrow $20,000 from the investor to buy the van.
• Investor…